Homework Help: Accounting

Posted by Rescueme417 on Monday, November 26, 2012 at 2:25pm.

Below is a list of treatments of accounting topics. Place GAAP
on the line if the treatment is GAAP-based and place IFRS on
the line if the treatment is IFRS-based.

A. Interest and dividend income are reported in the
investing section of the cash flow statement.__________
B. Interest expense is reported in the financing section of
the cash flow statement. ___________
C. The use of LIFO is prohibited.
___________

Please Check My answers
A. GAAP
B. GAAP
C. IFRS

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